We (in Hawaii) have to suffer getting up before Rosters if we want to be fully involved in the market. I cant believe i am waking up for this... am i nuts? It looks like my puts will be smacked today. The Pre-Market shows FXP down 17%. Good thing my FXI is not a 2x ETF. The point is that the VIX told me to get out yesterday, and i didnt do it. Unfortunately, i now will be seeing for myself that a Vix 80 is indeed a reliable gauge to exit short/put (and just MAYBE go long... but OUT of short/put for sure).
I am thinking about just going back to sleep. No sense suffering through a bad day. the thing is i woke up in case the market gapped down at the open, if so... there was no more playing around up or down... it would have signaled a rally. But as we all know the Market never cooperates.
As for my bloggers gauge:
TIM: chances of a strong rally are good
FLY: well he went Long on Wednesday
GIO: DO NOT short here
MAC: We are now overstretched(due for a bounce) and maybe have one more bad day
Stockbee: quotes someone, 'we may get the mother of all bounces'
its too bad i could only assimilate this after the market had already closed. but what a way to learn. one more day of a return might also mean missing a bad day the next day. Lesson learned again here at Stucktrader. As I ingrain into my brain VIX 80.
UPDATE: I am going to sleep 40 minutes after the open... I have no reason to stay up now that i set my sell/alert triggers. I didnt want to be stopped out on volatility if a solid trend is eventually found)